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XAU/USD is trading around $4,017, rebounding after a strong consolidation period around $3,963. During today's US session, gold rebounded vigorously above $3,980, reaching $4,030, and is likely to continue rising in the coming hours until it reaches the upper band of the downtrend channel around the 5/8 Murray level at $4,062.
Given that gold has been consolidating above $3,960 for several sessions, a technical rebound is expected to occur, reaching $4,08 where the 21-day SMA is located. If the instrument breaks above these levels, we could expect it to return toward the 200-day EMA around $4,352.
Given that the indicator is now giving a positive signal and gold is showing signs of a recovery, we could also confirm a breakout from a small asymmetric triangle. This would suggest that gold could continue rising in the coming hours, presenting an opportunity to open long positions above the psychological level of $4,000.
On the other hand, if gold falls below the psychological level of $4,000, we could expect it to once again attempt to break through the support level at $3,963 or even reach the lower band of the downtrend channel around $3,870.
Our trading plan for the coming hours is to buy XAU/USD; any pullback to this zone will be viewed as a positive signal, suggesting long positions with targets at $4,062 and $4,087.
*এখানে পোস্ট করা মার্কেট বিশ্লেষণ আপনার সচেতনতা বৃদ্ধির জন্য প্রদান করা হয়, ট্রেড করার নির্দেশনা প্রদানের জন্য প্রদান করা হয় না।
ইন্সটাফরেক্স বিশ্লেষণমূলক পর্যালোচনাগুলো আপনাকে মার্কেট প্রবণতা সম্পর্কে পুরোপুরি সচেতন করবে! ইন্সটাফরেক্সের একজন গ্রাহক হওয়ায়, দক্ষ ট্রেডিং এর জন্য আপনাকে অনেক সেবা বিনামূল্যে প্রদান করা হয়।
